School of Economics and Management, Nanjing University of Science and Technology, Nanjing, 210094, Jiangsu, China.
Anhui Institute of Economics, 230051, Hefei, Anhui, China.
Environ Sci Pollut Res Int. 2023 Apr;30(19):57114-57128. doi: 10.1007/s11356-023-26379-6. Epub 2023 Mar 17.
The implementation of green credits has become an important engine for China's high-quality energy development (HQED). On the basis of constructing an index of HQED and the panel data of thirty provinces in China from 2008 to 2019, this study empirically investigated the effects of green credits on HQED and the action mechanisms behind it in a multi-dimensional manner using a panel fixed-effects model, mediating-effects model, and spatial Durbin model. The results indicated that green credits had significantly contributed to China's HQED, and that conclusion still held true after a series of robustness tests were conducted. It was found that industrial structures and human capital were important channels through which green credits influenced China's HQED. Moreover, the spatial spillover effects of green credits on HQED were also confirmed. Finally, in terms of temporal heterogeneity, the positive effects of green credits on HQED were found to have increased significantly after 2012. Also, in terms of regional heterogeneity, this study observed that the positive influence of green credits on HQED was more significantly in central and western China than in eastern China, and in southern China than in northern China. The results obtained in this research investigation will potentially provide some important insights for energy planners and policymakers to further the understanding of the drivers of HQED, and the corresponding transmission mechanisms and regional differences.
绿色信贷的实施已成为中国高质量能源发展（HQED）的重要引擎。本研究基于构建 HQED 指数和 2008 年至 2019 年中国 30 个省份的面板数据，采用面板固定效应模型、中介效应模型和空间杜宾模型，从多维角度实证研究了绿色信贷对 HQED 的影响及其背后的作用机制。结果表明，绿色信贷对中国 HQED 的发展有显著的促进作用，且在进行了一系列稳健性检验后，这一结论仍然成立。研究发现，产业结构和人力资本是绿色信贷影响中国 HQED 的重要途径。此外，绿色信贷对 HQED 的空间溢出效应也得到了证实。最后，从时间异质性来看，绿色信贷对 HQED 的积极影响在 2012 年后显著增加。同时，从区域异质性来看，本研究观察到，绿色信贷对 HQED 的积极影响在中西部地区比在东部地区更为显著，在南方地区比在北方地区更为显著。本研究的结果将为能源规划者和政策制定者提供一些重要的见解，以进一步了解 HQED 的驱动因素，以及相应的传递机制和区域差异。
